WHAT DOES REAL ESTATE REPRESENTATION ENTAIL?
Real estate can be a lucrative niche to venture into – more so for someone interested in the property business. However, the real estate business comes with risks that can subject you to lawsuits. In a situation whereby you have to stay in control of handling client contracts, deal with numerous listings and the escrow process, making inadvertent mistakes is understandable. What begins as an innocent mistake might affect your finances and even injure your business reputation. At Griffin, P.C., our focus is to help both start-ups and established businesses make and establish wise long-term decision-making that will secure them against liability.
REAL ESTATE CASES ENTAIL BUT ARE NOT LIMITED TO THE FOLLOWING:
As a real estate agent or broker, your buyer or seller mandates you to be as vigilant as possible to ensure you get them a property with a clean title. Therefore as is expected, conducting various searches on the property to be sold is part of the tasks you need to undertake. If such a client ends up acquiring a property with a fraudulent title, a professional negligence suit against your business can ensue. The effects of such a lawsuit can have long-lasting effects on your business. Consulting with the real estate counsel at Griffin, P.C. beforehand will help you greatly minimize liability on your end.
Non-disclosure of important details about the property leading to a scenario where a client pays more than they could have paid if they knew the details prior, can also lead to disputes. As usual, a property will have both latent and patent defects, in such scenarios; your client relies on your professional judgment to establish the unseen defects. For example, establishing the structural defect of a building might require you to hire a structural engineer, and failure to do so can result in selling a property with structural defects.
Please contact Griffin, P.C. today and save your real estate business possible financial trauma.